How 2025 set the stage for smarter finance in 2026
Our team at ApprovalMax joined forces with Joiin and Mayday, as we surveyed 166 finance professionals across Australia and the UK. Our goal was simple: we wanted to understand what’s holding finance teams back and where they’re heading next.
What we found was strikingly consistent. Whether you’re a CFO in SaaS or a controller in construction, the same core challenges keep appearing. We hear about too much manual work, limited visibility of what’s actually happening, and not enough time to use existing tools to their full potential.
This isn’t about tech adoption. It’s about focus. The result is often that teams feel powerless and experience stack fatigue. The teams that are winning aren’t the ones with the most apps; they’re the ones that know how to make those tools work together.
• A new survey by ApprovalMax, Joiin, and Mayday reveals what’s really slowing finance teams down.
• Manual work, weak visibility, and underused tools remain the biggest pain points.
• Real-time visibility and stronger internal controls are rising priorities.
• AI is here, quietly reshaping accounting work behind the scenes.
• The most effective teams aren’t buying more software; they’re using what they already have, better.
The manual work problem
- 46% of respondents said their month-end process still involves too much manual work.
- 41% said they rely on a mix of automation and spreadsheets.
- 35% said it takes them six to ten days to close their books.
Those numbers tell a familiar story. Finance teams are caught between legacy habits and modern tools. Spreadsheets are flexible, but they’ve quietly become one of the biggest bottlenecks in accounting.
Teams that push past this point tend to start small, automating one high-friction area first. Accounts payable is often the turning point. When approvals move from inboxes to structured workflows through tools like ApprovalMax, it sets the tone for everything else.
Automation doesn’t mean losing control. It means building it in.
Reporting accuracy and the trust gap
Only 11% of finance professionals said they’re very satisfied with their reporting. For most, Excel is still the main reporting tool.
That reliance creates fragility. One broken link, one misaligned tab, and an entire board pack can fall apart.
What teams really want is trustworthy data, information that’s always accurate, consistent, and ready to share.
Joiin, one of our survey partners, exists to solve exactly that. By connecting data directly from accounting systems into group or consolidated reporting, it removes the guesswork and manual copy-paste errors that plague traditional spreadsheets.
Better reporting isn’t about more dashboards. It’s about consistency. When the numbers are clean, the confidence follows.
The push for real-time visibility
95% of survey respondents said real-time reporting is important, but only a quarter feel confident in their current setup.
Finance leaders have already seen what real-time bookkeeping can do. Bank feeds and automatic reconciliations changed that forever. Now it’s time for the same leap to happen at month-end, across accruals, intercompany reconciliations, and prepayments.
That’s where Mayday, our third partner in this research, focuses. Automating those complex month-end adjustments is what unlocks genuine real-time accuracy.
But visibility isn’t just a technical problem. It’s a cultural one. When data is visible across the business, not just within finance, people stop making assumptions and start making decisions together.
Controls as peace of mind, not red tape
Only 18% of survey participants said they were confident in their internal controls. The biggest weaknesses are approval tracking, segregation of duties, and audit trails.
That’s not surprising. Many teams are still managing approvals through email or chat threads, which might feel fast but introduces real risk.
Modern finance teams are taking a different approach. They’re embedding control directly into their daily tools.
ApprovalMax users, for example, can define approval rules by supplier, amount, or department. Every transaction follows a clear path, creating automatic audit trails along the way. It’s control by design, not by effort.
Strong controls don’t slow you down; they give you confidence to move faster.
The cautious adoption of AI
Only 10% of respondents said they’re using AI today, but 63% expressed strong interest. Most don’t realise they’re already using it in tools that categorise, match, or flag anomalies quietly in the background.
This is what one survey participant called invisible AI. It’s not replacing accountants; it’s removing repetition. Think of it as a quiet co-pilot that handles identification and classification while people focus on interpretation.
AI in finance should always be verified and auditable. The risk isn’t the technology itself; it’s automation bias, the human tendency to trust outputs without question. The best finance teams design systems where AI supports judgment, not replaces it.
Getting more from what you already have
73% of respondents said they’re not getting full value from their current tech stack.
It’s a common story. Most companies buy tools during busy periods, use 20% of their capability, and move on.
The opportunity in 2026 isn’t necessarily buying new software; it’s getting smarter about the software you already have.
Here’s what the best teams do differently:
- Assign tool owners. Someone is responsible for learning, updating, and sharing knowledge about each tool.
- Revisit training. Most vendors, including us at ApprovalMax, offer free sessions and webinars.
- Ask for success stories. Asking “How are other teams using this?” is often the fastest way to find new value.
It’s rarely about adding more. It’s about using less, better.
Looking ahead to 2026
If 2025 was the year of awareness, 2026 will be the year of action.
Finance leaders have identified their biggest bottlenecks. Now the focus shifts to execution.
Based on what we saw in this survey, three priorities are likely to shape the year ahead:
- Real-time finance has become the norm. Teams that still close books manually will find it harder to keep up with investor and board expectations.
- Automation and AI move from pilots to policy. Tools that once felt optional will become essential for compliance, audit readiness, and data accuracy.
- Finance takes on a leadership role. Controllers and CFOs will spend less time on inputs and more time on insights, guiding company strategy with data that’s always current.
The systems are ready. The next step is cultural, building the habits and confidence to use them every day.
What the best finance teams are doing differently
The data shows a clear pattern. Top-performing finance functions don’t just chase efficiency; they build systems that give them control, insight, and time to think.
- They automate repetitive work but keep human review at every critical step.
- They document policies before they buy tools.
- They measure success not by speed alone but by accuracy, trust, and calm month-ends.
The technology is already there: Xero, QuickBooks, Joiin, Mayday, ApprovalMax, and hundreds of other integrations. What separates the leaders is how they use it.
Final thought
Modern finance teams aren't just closing the books faster. They're building environments where accuracy, accountability, and confidence come standard.
That’s what this survey revealed most clearly. The tools are important, but the mindset matters more.
The finance teams that lead in 2026 will be the ones that act on what they already know, turning automation into a discipline, clarity into culture, and control into confidence.
